X2MACandle_Chl - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

X2MAC Candles has an indicator with two colored channels, based on the standard deviation of the highest and lowest prices of the indicator candle. To facilitate candlestick analysis, the indicator brightness is reduced. In order for the indicator to display properly, select the "Foreground Chart" checkbox in the chart properties.

 //+------------------------------------------------------------------------+
//| Indicator input parameters |
//+------------------------------------------------------------------------+
Enter Smooth_Method MA_Method1=MODE_SMA_; //The first smoothing average method
Input integer length 1= 12 ; //The depth of the first smoothing
Input integer stage 1= 15 ; //First smoothing parameter,
//---- For JJMA in the range of -100 ... +100, it affects the quality of the transition process;
//----For VIDIA, it is the CMO cycle, for AMA, it is the slow average cycle
Enter Smooth_Method MA_Method2=MODE_JJMA; //The second smoothing average method
Input integer length 2 = 5 ; //The depth of the second smoothing
Input integer stage 2 = 15 ; //Second smoothing parameter,
//---- For JJMA in the range of -100 ... +100, it affects the quality of the transition process;
//----For VIDIA, it is the CMO cycle, for AMA, it is the slow average cycle
Input unit gap = 10 ; //Point gap not considered
Input unit BB length = 10 ; // Bollinger band period
Enter double the band deviation = 1.0 ; // deviation

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1. X2MACandle_Chl

Attachment download

📎 SmoothAlgorithms.mqh (130.2 KB)

📎 X2MACandle_Chl.mq5 (24.86 KB)

Source: MQL5 #22290